3 business experts, 3 use cases on business-ready data
Most businesses, whatever their business model, are concerned with compliance and profit.
The business must comply with the law, regulations and conduct guidelines, and to be sustainable, must remain profitable. Financial stability comes with optimizing internal operations and the value chain while exercising organizational strengths amid changing market forces. To succeed in both areas, data related to the business must be understood, trusted and used.
IBM Unified Governance and Integration solutions help businesses know, trust and use their data effectively. Combining business-ready data with IBM capabilities such as machine learning, artificial intelligence (AI) and AI-enabled platforms helps businesses use that trusted data to inform operations and decision making in a way that delivers responsible and profitable business outcomes.
Once an organization embeds data governing rules, streamlines processes and automates decision-making, it can implement systems that often save money, make money, or reduce risks.
Recently, I was blessed to work with three executives to learn about their information governance journey and how their businesses benefited from making their data business-ready.
New Jersey courts
Can a state reduce the number of arrestees who go to jail for being poor? - Jack McCarthy, CIO
The New Jersey court system had identified a bail problem. Too often, people who could not afford their bail were spending time in jail for offenses that were of such minimal consequence, the prosecutor would eventually dismiss the charges entirely. A study revealed 15,000 defendants were in jail for bails set at $2,500, which means the accused could not afford 10 percent, or $250, to get out of state custody. The court system found that persons imprisoned for more than eight hours statistically tended to suffer huge losses in areas including work and housing.
New Jersey court officers found that prosecutors and judges often sought, denied or assigned bail based on subjective information. Court officers sought to collect, automate and score data about arrestees and use those risk assessment results to offer all official personnel a recommendation. The courts streamlined their statutes and arrest records and using IBM MDM and IBM InfoSphere DataStage, culled 40 million parties into 8 million unique identities. A customized program that identifies and assesses the prospective risk of an arrestee remits a score report to all personnel in the case.
In the past seven years, the New Jersey court system has reduced the jailed population by 40 percent, with an estimated cost savings of $10 million.
Can a bank manage millions of customers’ data and prepare for regulatory audits with ease? - Debi Tadd, VP, Information Lifecycle Management
The main challenge for BBVA Compass was to add structure to its unstructured data. Following a multi-bank acquisition, an audit revealed that the company was keeping its data for too long. BBVA Compass needed to identify the data it had, define the data’s value, determine whether to retain it and for how long and understand the regulations that would govern the data.
To achieve its goals, BBVA Compass had to merge multiple records systems and enact cultural change so that internal business users would adopt a new approach to records management, from paper retention to information retention. IBM StoredIQ data discovery helped to address record management challenges and provided an essential framework that helped the bank shift course. Employees started to see themselves as authorities on retention, helping the bank progress in its new governance model.
Can analytics help an airline land 1,200 flights in 115 cities on time and safely? - Jeff Crose, Software Development Engineer
Prior to using IBM data tools, Alaska Airlines engineers struggled with their test data, spending about 80 percent of their time trying to identify it. In a mission-critical, safety-focused operation, the engineers had to consider multiple sources of data: loaded cargo, number of passengers with a booked ticket, what time customers check in, what time customers board the plane, and so on. Another factor was the countdown-driven data. Once the flight took off, landed, and the people or cargo offloaded, the test data was no longer useful.
The airline implemented IBM InfoSphere Optim to make its data agnostic so the data could fill gaps in the test data. This change helped make the testing more efficient, which helped the airline maintain safer, more reliable flights through more accurate testing.
Learn how data can help transform your organization
These are some examples of what organizations can do with IBM Unified Governance and Integration portfolio. You too can make your data business-ready to gain sustainable competitive advantage.
We will continue to reveal digital transformation and compliance best practices with proven business outcomes at THINK 2019 in San Francisco, California. Hope to see you there.